Research Summary
Daily Notes from 03-08-2023 by ASXN provides insights into various developments in the crypto space. The report highlights the launch of Ondo Finance’s USDY, GMX’s v2 product, and Arbitrum’s permissionless validation. It also covers Aave’s proposal to purchase CRV tokens, Espresso Team’s findings on sequencers, and Base Network’s public access launch. Additionally, the report includes updates on Coinbase’s revenue, trending assets, TVL changes, fees, governance proposals, and new partnerships and products in the crypto market.
Actionable Insights
- Investment Opportunity: Ondo Finance’s USDY offers an initial 5% APY, secured by US Treasuries and bank deposits.
- Trading Expansion: GMX’s v2 product allows trading of more altcoins with reduced fees and includes a skew-based funding rate.
- Technology Advancement: Arbitrum’s BOLD enables permissionless validation, ensuring fixed confirmation times for Optimistic Rollups.
- Strategic Acquisition: Aave’s proposal to buy CRV tokens aims to support the DeFi ecosystem and strengthen their position in Curve wars.
- Interoperability Development: Espresso Team’s findings on sequencers offer new opportunities for interoperability but with specific limitations.
- Platform Launch: Coinbase’s Base Network will include NFT functionalities and an official Ethereum bridge, launching on August 9th.
- Market Trends: Curve’s TVL is recovering post-exploit, and Coinbase’s Q2 revenue surpassed estimates, affecting asset performance.
- New Partnerships and Products: Vertex’s partnership with Toa Capital, Trader Joe’s on-chain limit orders, and Synthetix’s $WLD perpetual futures offer new trading opportunities.
